Oaktree, JHR invest $47 mln in restaurant franchisor Foodtastic

Montréal-based restaurant franchising business Foodtastic Inc has secured a $47 million investment from Restaurant Royalty Partners (RRP). RRP is a joint venture of U.S. private investment firms Oaktree Capital Management and JHR Capital. Founded in 2011 by CEO Peter Mammas, CDO Lawrence Mammas and COO and CMO Jacques Gaspo, Foodtastic is a franchisor of several restaurant concepts, including La Belle et La Boeuf, Carlos & Pepe's, Souvlaki Bar, Nickels and Bacaro. The company said the partnership with Oaktree and JHR will accelerate its acquisition strategy and support organic growth, which includes a plan for opening 18 new restaurants in 2019.

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